Bord Gais Energy and its parent company Centrica have commenced investment of €250m to construct two new power plants with capacity to power 100,000 homes year-round.

The two plants will provide 200MW of flexible gas-fired power generation, meaning they can be switched on and off as demand peaks, in terms of making Ireland's energy supply more stable and secure.

When operating, they will react to the peaks and troughs of electricity generation from renewable generators, and Bord Gais Energy described the relative speed with which they can be switched on and off as a key benefit.

The plants will be capable of moving from a standing start to full power generation inside six minutes. The proposed plants will also be hydrogen enabled, in preparation for running on renewable gas when it is available.

Clearance works have begun at the two sites in Athlone, Co Roscommon and Profile Park, Co Dublin, and full construction and design tender competitions are also in progress with multiple tenderers participating.

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Both plants are expected to be completed by the end of 2024.

"In addition to our existing Whitegate power station, the construction of these two new plants will help the penetration of renewables on the system while also supporting Ireland’s journey to net zero," said Dave Kirwan, managing director of Bord Gáis Energy.

Bord Gáis Energy raised electricity (+39%) and gas (+34%) prices by more than a third in October, affecting more than 500,000 customers, after increasing prices in March and on several occasions in 2021. The company reported a 75% increase in operating profits during the first half of 2022.

“We recognise the current difficulties facing consumers all across Ireland in relation to energy costs.  Our focus is on protecting our customers as much as we can right now, while also using our financial strength to make investments that will protect them in the future," Kirwan said.

“In 2022 we will make no profit in residential energy supply and have instead sought to protect customers through absorbing some of the worst increases in energy prices, supporting the most vulnerable and investing in our customer service teams and training.

"We have put in place an energy support fund and committed 10% of operating profit from other parts of our business to further support customers who need it most right now.”.